China Life Singapore to hire 500 consultants in next five years

SINGAPORE – China Life Insurance (Singapore) will soon be able to serve individual customers directly as it aims to hire at least 500 consultants in the next five years. The insurer, which currently sells its products through financial companies and banks, will recruit these consultants in various entry- and senior-level positions from Oct 1. This… Continue reading China Life Singapore to hire 500 consultants in next five years

Pandemic will intensify risks for insurers, says EU watchdog

LONDON, July 30 (Reuters) – Insurers in the European Union are confronted with risks on several fronts that are intensified by the COVID-19 pandemic, and could face lengthy legal battles from claims relating to lockdowns, the bloc’s insurance watchdog said on Thursday. Insurers and reinsurers had a “solid and comfortable” capital buffer going into the… Continue reading Pandemic will intensify risks for insurers, says EU watchdog

Digital Asset Insurance Company Evertas Raises $2.8 Million in Equity Funding – Blockchain News, Opinion, TV and Jobs

Digital asset insurance company Evertas has completed a Seed Stage funding round and raised $2.8 million. The funding round was led by Morgan Creek, who were joined by Plug n Play, Kailash Ventures, RenGen, Vy Capital and Wavemaker Genesis. J Gdanski, CEO and Founder of Evertas, said: “We believe we are the only company in the world focused solely… Continue reading Digital Asset Insurance Company Evertas Raises $2.8 Million in Equity Funding – Blockchain News, Opinion, TV and Jobs

Lack of insurance threatens supply of Hollywood films, TV shows in 2021

Film, TV to restart Hollywood production Former film executive Chris Fenton discusses restarting film and TV production with coronavirus regulations in California and the delay of future content. NEW YORK – Insurers have largely stopped covering independent film and television productions against the risk of COVID-19 illness, a shift that threatens the supply of new entertainment… Continue reading Lack of insurance threatens supply of Hollywood films, TV shows in 2021

Canadian Crypto Companies Now Provide Insurance on Digital Deposits | Live Bitcoin News

Two bitcoin-based companies in Canada, Bitbuy and Knox, are working together to offer clients full insurance on all their deposits. Knox and Bitbuy Join Hands Over Insurance Lagging insurance protocols have brought the cryptocurrency space down for years. This could arguably be why so many institutional players and others have been reluctant to get involved… Continue reading Canadian Crypto Companies Now Provide Insurance on Digital Deposits | Live Bitcoin News

Insurance money for homeless disabled veteran proves evasive

Dear John: My brother passed away in February 2018 and for two years I have been stalled by the insurance company in my efforts to obtain the insurance money. I am a disabled veteran, now homeless, and paid out of pocket to bury my brother, relying on the proceeds from the policy. I read your… Continue reading Insurance money for homeless disabled veteran proves evasive

New Zealand insurance firms save $100M as coronavirus keeps drivers home

Insurance companies in New Zealand are reportedly saving big bucks as the coronavirus crisis keeps the country’s drivers off the roads. The Kiwi insurance industry has saved about $100 million given that motor vehicle claims have plummeted as much as 90 percent, the head of the New Zealand Insurance Council told local news outlet RNZ.… Continue reading New Zealand insurance firms save $100M as coronavirus keeps drivers home

Insurer Tokio Marine hands out assistance funds to four coronavirus-stricken patients

SINGAPORE – Insurer Tokio Marine has disbursed $5,000 each to four of its life insurance policyholders who have contracted Covid-19, the company said on Thursday (March 19). The initiative is part of the company’s plan to help affected customers and their family members tide through the challenging times, its statement added. Tokio Marine was one… Continue reading Insurer Tokio Marine hands out assistance funds to four coronavirus-stricken patients

This word describes Social Security — but not everyone wants to hear it

U.S. presidential candidates get asked many questions about the country’s state of affairs — one of which is what they will do about “entitlement programs.” “Entitlement” often refers to Social Security and Medicare, but critics argue that’s the wrong way to describe it. Many Americans take to social platforms saying they’ve paid into the system… Continue reading This word describes Social Security — but not everyone wants to hear it

Want a relatively painless way to curb retiree health care costs? Look to North Carolina

It’s often reported that underfunded public employee pension systems create barriers to state and local governments’ ability to provide ample public services like education, parks, and libraries. Too often overlooked, however, is another looming fiscal challenge: the rising costs of paying for health insurance for America’s retired public employees. The Federal Reserve estimates that the… Continue reading Want a relatively painless way to curb retiree health care costs? Look to North Carolina

Coronavirus update: A new task force, quarantined Americans and WHO to decide if it’s a public health emergency

A new U.S. task force led by Health and Human Services chief Alex Azar is the latest effort by officials to prepare for additional cases of the novel coronavirus in the U.S. President Donald Trump announced the formation of the task force on Thursday. Five U.S. residents, all of whom had recently traveled to Wuhan… Continue reading Coronavirus update: A new task force, quarantined Americans and WHO to decide if it’s a public health emergency

Why you should consider health savings accounts

For full access, Log in or Subscribe Now and get 4 weeks free! Health care continues to get exponentially more expensive as medical therapies advance and people live longer. According to a report by HealthView Services, total lifetime health care costs for a healthy 65-year-old couple retiring this year are projected to be $387,644 in… Continue reading Why you should consider health savings accounts

Keeping Your Assets Safe — Crypto Insurance May Soon Become the Norm

If the crypto sector is to attract more institutional investors, it will need to provide more insurance solutions. This point was driven home anew with the recent news that the Gemini crypto exchange has launched a captive insurance company, Nakamoto Ltd., to insure its Gemini Custody business for up to $200 million — reportedly the… Continue reading Keeping Your Assets Safe — Crypto Insurance May Soon Become the Norm

Private insurance enrollment in this state decreased by 14,000 after Medicaid expansion

GOP senators call for explanation of improper Medicaid payments Kristin Tate, contributor for The Hill, on how Sens. Chuck Grassley (R-Iowa) and Pat Toomey (R-Pa.) are pushing to boost oversight of the Medicaid program. Private insurance enrollment in Idaho decreased by 14,000 since last year after Medicaid expansion, state insurance exchange Your Health Idaho said Wednesday.… Continue reading Private insurance enrollment in this state decreased by 14,000 after Medicaid expansion

Manulife CEO apologises for executives' spoof rap video

TORONTO (BLOOMBERG) – Manulife Financial Corp’s chief executive officer Roy Gori apologised to employees for a spoof rap video that was part of the executive team’s year-end message. The internal video, the third in an annual series featuring different music genres, was retracted after some employees said they were offended by it. The Toronto-based insurer… Continue reading Manulife CEO apologises for executives' spoof rap video

7 states where Obamacare is cheaper and works better

In 2019, seven U.S. states tried an innovative experiment to improve the Affordable Care Act (ACA) by operating reimbursement pools, which pay back ACA insurers a specified portion of their expensive healthcare claims.  These pools significantly lowered premiums for individual policyholders in these seven states and generally upped the level of insurance enrollments. Moreover, these pools met a… Continue reading 7 states where Obamacare is cheaper and works better

Insurance Industry Eyes Blockchain as Top Firms Begin Tests

On Dec. 12, the second-largest health insurance company in the United States announced plans to leverage blockchain technology to secure the medical data of all its 40 million members over the next three years. The most unique quality of a blockchain is that once a piece of information is added to the distributed ledger, it… Continue reading Insurance Industry Eyes Blockchain as Top Firms Begin Tests

How to build a secure retirement by creating your own personal pension

Over the past few months, I have laid out many ways to build your own personal pension, which used to be the norm but now, at least in private industry, is nearly extinct. This time, we put it all together to show you how it can be done. But first, to refresh your memory, here… Continue reading How to build a secure retirement by creating your own personal pension

Insurance Broker Marsh Pilots Blockchain-Based Digital Placement Platform

Leading insurance broking and risk management firm Marsh has piloted a blockchain-based digital placement platform. Per a Sept. 24 press release, the Risk Exchange platform aims to ensure a more transparent and secure digital placement and enables users to receive real-time information and feedback on the placement and binding process. Insurance placement is the purchase… Continue reading Insurance Broker Marsh Pilots Blockchain-Based Digital Placement Platform

Keep believing in Warren Buffett even though the stock market is crushing Berkshire Hathaway

If investors were asked who is the greatest investor of all time, Warren Buffett’s name would surely be at, or near, the top of almost everyone’s list. But as he turns 89 on Friday, Berkshire Hathaway’s recent performance has led some to question whether he is still at the top of his game. Through Tuesday,… Continue reading Keep believing in Warren Buffett even though the stock market is crushing Berkshire Hathaway

San Jose mayor: Gun insurance requirement addresses public cost of violence

San Jose considering proposal requiring gun owners to carry liability insurance San Jose Mayor, Sam Liccardo, on the city considering proposal requiring gun owners to carry liability insurance. The mayor of San Jose, California, explained his first-in-the-nation proposal to require gun owners to carry liability insurance on their firearms. Continue Reading Below Mayor Sam Liccardo told… Continue reading San Jose mayor: Gun insurance requirement addresses public cost of violence

Blockchain Insurance Group B3i Launches First Product on R3's Corda

B3i, a consortium startup working to use blockchain tech in the insurance industry, has launched its first product on R3’s Corda platform. Revealed Wednesday, the release of B3i’s v1.0 of its Property Catastrophe Excess of Loss Reinsurance product comes a year after the firm’s announcement that it would use Corda to build its future products. The… Continue reading Blockchain Insurance Group B3i Launches First Product on R3's Corda

After $6 billion M&A spree, insurer FWD eyes China foray ahead of IPO

HONG KONG (Reuters) – Fast-growing insurer FWD is seeking to launch operations in China ahead of a public offering and plans to bolster its non-life business in Asia, its chief executive said, as a potential shake-up looms in the region’s insurance sector. FWD, controlled by Richard Li, the entrepreneur and son of Hong Kong’s richest… Continue reading After $6 billion M&A spree, insurer FWD eyes China foray ahead of IPO

Italy Plans to Create Blockchain-based Smart Parametric Insurance Policies

Italy is considering starting smart parametric policies with automatic reimbursement based on blockchain, smart contract and distributed technology (DLT). The policies will cover the risks related to bad weather, delayed flights and lost luggage. Catholic University and Reply are developing a solution for the issuance of smart blockchain-based insurance policies. The project is created within… Continue reading Italy Plans to Create Blockchain-based Smart Parametric Insurance Policies